The token that burns itself.
Forever.
A self-immolating DeFi engine on Solana. 90% of creator rewards get staked, the yield buys back and burns $PYRE, the supply shrinks, the flame holds. Phase 2 unlocks $EMBER — a synthetic credit instrument backed by a real treasury, floating in a defined band. Not a stablecoin. Not a peg promise. Not the next UST. The protocol survives stress before it tries to optimize growth.
Pump.fun routes creator fees (SOL) to the project's multisig treasury. Every trade is a log on the fire.
Routed to Jito/Marinade for ~6-8% native APY plus MEV. Treasury holds jitoSOL/mSOL. Capital stays productive but withdrawable. We do not gamble it on leveraged perps.
Pays for audits, oracle infrastructure, keeper subsidies, and development. Capped at 18 months trailing OPEX — overflow returns to the main treasury. The bucket cannot become a slush fund.
Every week, 70% of realized treasury yield is swapped for $PYRE via TWAP over 24 hours and sent to a verifiable burn address. Burns are permanent. The remaining 30% compounds in the treasury. The schedule cannot be skipped without supermajority governance.
The loop has no off switch. As long as anyone trades $PYRE, SOL flows in, gets staked, generates yield, and incinerates supply. We're not asking you to believe in a roadmap. We're asking you to watch a contract run.
Tokenomics
Total Supply
1,000,000,000
$PYRE — fixed. no minting.
Public Bonding Curve
85%
850,000,000 tokens — open market.
Project Treasury
15%
150,000,000 tokens — 5 wallets.
The treasury can only sell what it acquired at launch. Maximum lifetime selling pressure: 15% of supply. No future minting. No team unlock. No 'strategic round' hitting the bid in Q3. The cap is structural, not policy.
DEX liquidity only. No open-market sales ever.
The only wallet that can sell to the market. Gated by FDV floor (max of $50M or 10x treasury NAV), 30-day MA +25%, max 0.25%/month, TWAP execution.
Accredited investors only. Max 40% discount, max 2% per 90-day window. Every sale publicly disclosed within 48h.
Integrations only. 12-month vest on recipients.
Post-unlock, cannot be sold for hard assets — ever. PYRE-denominated commitments only.
Multisig signers, all transactions, and every wallet's constitutional rules are publicly disclosed. Each wallet's mechanism caps abuse at 3% — not 15%.
Phase 2
Phase 2 does not activate on a timeline. It activates on conditions. Every condition is public, measurable, and enforced on-chain.
Treasury holds ≥ $5M in non-PYRE liquid assets (USDC, SOL, BTC, ETH), measured as a 30-day trailing average. PYRE itself does not count — a treasury that's mostly its own governance token is the structural mistake that killed Olympus and UST.
Supermajority governance vote: ≥66.7% in favor, ≥20% of supply participating, 14-day voting window, 30-day timelock on execution.
Pre-activation diligence complete: two independent audits (Solana-specialist firms), public bug bounty live ≥60 days, testnet ≥90 days, dual oracles (Pyth + Switchboard) verified, ≥3 independent liquidators operational, insurance fund seeded to $1M.
The threshold cannot be lowered. Indefinite stalling is also blocked: once met, governance must vote within 90 days, and refusing requires its own supermajority every 180 days. The path of least resistance, once we earn the threshold, is activation.
Targets $1.00 within a defined band: ±2% normal, ±5% stress. The protocol does not defend the band with reserves it doesn't have — that's the failure mode that killed UST. Overcollateralized debt against approved collateral (USDC, SOL, BTC, ETH, PYRE), with adaptive collateralization that tightens as system leverage rises. Dual oracles (Pyth + Switchboard). Settlement queues replace peg defense under severe stress. Insurance fund + treasury backstop within constitutional caps.
Not a stablecoin. Not redeemable at fixed parity on demand. Not insured. The mechanism is honest about what it is and isn't.
At activation, the working treasury seeds EMBER/USDC and EMBER/SOL pools on approved DEXs. No mercenary liquidity. No unsustainable incentives. Depth comes from protocol-owned positions that are constitutionally capped and publicly tracked.
EMBER minting requires locking $PYRE as collateral. Demand for EMBER drives demand for locked $PYRE, which tightens supply further. The burn loop and the collateral loop reinforce each other. Two mechanisms, one direction: down for supply, up for pressure.
Phase 2 is the first moment $PYRE governance has real decisions to make. Collateral ratios, approved assets, liquidation parameters, insurance fund allocations — all on-chain, all supermajority-gated, all with timelocks. The treasury does not act without the token.
